Investment Times

The Bank of Ghana (BoG) has agreed with the Ghana Cocoa Board and commercial banks to use COCOBOD’s investments held at the various banks to pay its customers who may not agree with the decision to rollover the Cocoa bills. The BoG, in a release, noted that while Cocoa bills, like the Bank of Ghana bills, were designed as instruments to be held just by financial institutions, unfortunately some financial institutions sold their instruments to their retail clients. The move to allow the banks use COCOBOD’s investments with them to pay such clients is, therefore, to help reduce the cash...